The markets are not having a good week, to put it lightly. The S&P/ASX 200 (INDEXASX: XJO) has lost another 1.43% at the time of writing and is sitting at 6,615 points. But weeks like this can be great opportunities to pick up shares for a discount – like any market, the ASX does have a sale from time to time.
So here’s how I would spend $10,000 on ASX shares that are looking cheap today.
Australia and New Zealand Banking Group (ASX: ANZ)
ANZ shares have been under pressure for weeks now. Sluggish growth and dividend/franking cuts have been dampening sentiment of late, and the woes of ANZ’s banking stablemate Westpac Banking Corp (ASX: WBC) have done nothing to help.
But ANZ shares are now going for $24.20 (at the time of writing), which is getting close to the 52-week low of $22.98 that we saw last Christmas. That means that anyone who picks up ANZ shares today will be banking a juicy starting yield of 6.61%, which grosses all the way up to 8.6% even at 70% franking.
Thus, I think ANZ shares would be a great buy for any retiree or income investor today.
Zip Co Ltd (ASX: Z1P)
Zip shares have already been under some pressure over the past week or so after the company successfully completed a $60 million placement capital raising. But this week’s market volatility has pushed Z1P shares down to $3.56 at the time of writing, which is nearly 10% cheaper than this time last week.
Thus, I think if you’re bullish on Zip or even BN-PL in general, this could be a great time to pick up this ASX growth stock.
It’s not just Zip feeling the pain today – arch-rival Afterpay Limited (ASX: APT) is also nursing some heavy losses and is currently down 4.5% to $29.14 if you’re interested in this space.
ANZ and Zip Co are just 2 of the shares that I think are looking attractive at today’s prices. There are many more shares for sale out there, so get shopping!
The post Where I’d spend $10,000 on ASX shares today appeared first on Motley Fool Australia.
And f you'd like some of our Foolish stock picks, just click the link below!
Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.
One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…
Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield...
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
- Man bets $221,666 on one ASX stock
- Top analysts name their top 3 ASX blue chip shares for 2019
- 3 quality dividend shares to boost your income
- NEW: Free report names top 3 ASX dividend shares to buy for 2019
- 5 Stocks for Potentially Building Wealth After 50
Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019